Definitely, but as a supplement to a main computer, not a replacement for one. It will be a great ebook reader for textbooks, great for taking notes and surfing and keeping connected all day long, but it's not a full function computer at this point.
You would still need another computer to activate, maintain, and backup your iPad as well as run more mainstream programs for your studies not to mention little things like printing.
I can see the possibilities down the road as cloud computing becomes more prevalent of using something like the iPad as most peoples main computer and supplementing it with occasional cloud use rather than supplementing it from another real machine you own.